Knoxville News Sentinel [1]

Ceramaspeed Inc., a Blount County maker of control systems for various heating equipment, announced today it will be laying off 70 workers between July 4 and Dec. 26.

[..]

To remain competitive, the company is shifting production to one of its plants in Monterrey, Mexico, Holladay said.

The company said this is part of a plan started last year to reduce it's 300 employee work force by 60%.

According to the KNS article, Mayor Cunningham lamented the company "downsizing to the point of closing down," suggesting they were winding down operations here. The company said this was not the case, and that there would still be "finance, sales, marketing and support-type staff" located here.

Ceremaspeed is a VIP Member [2] of the Blount Chamber Partnership Economic Development Board. The Blount Chamber says that because of VIP members, "new jobs have been created, additional capital investments have been made and our region's tax base has been increased," and that "a better quality of life and standard of living for the citizens of our area has been created."

Previous discussion at KnoxViews [3]...